Kyle Lowry to Sign Reported 3-Year, $90M Heat Contract in Raptors Sign-and-Trade

After nine years, Kyle Lowry's time in Toronto has come to a close.  

The longtime Raptors point guard will reportedly sign a three-year deal with the Miami Heat as part of a sign-and-trade agreement with Toronto, per Vincent Goodwill of Yahoo Sports. Adrian Wojnarowski of ESPN reported the deal is worth "approximately" $90 million.

Lowry later confirmed his agreement with the Heat in a post on his Twitter account:

Lowry, 35, had another solid season for the Raptors, averaging 17.2 points, 7.3 assists and a steal per game while shooting 43.6 percent from the field and 39.6 percent from three. He appeared in just 46 contests, however, as the Raptors struggled through a difficult 27-45 season. 

That was partly a result of the team's displacement due to the COVID-19 pandemic and travel restrictions between the United States and Canada, forcing Toronto to hold its "home" games in Tampa Bay. The organization was also clearly transitioning to a new era of basketball likely to be built around Fred VanVleet, Pascal Siakam and OG Anunoby. 

Veterans like Marc Gasol and Serge Ibaka signed elsewhere in free agency last summer. Norman Powell was traded to the Portland Trail Blazers ahead of the trade deadline. And it seemed likely that Lowry would be dealt to a contender as well, giving him the chance to pursue a title. 

But the Raptors didn't find a deal they liked and decided against trading him—a surprise considering Lowry chose to leave the team this summer. 

It's the end of an era, though Lowry will have the opportunity to pursue a title in Miami while the Raptors retool around younger players.

It isn't shocking Lowry ended up in Miami, given his friendship with Jimmy Butler. And he'll be an excellent fit alongside the talented core of Butler, Bam Adebayo, Tyler Herro and Duncan Robinson, giving the team a six-time All-Star starting point guard and strong veteran presence. 

Lowry is also an upgrade over Goran Dragic, making his signing a logical move for a Miami team that looks like a title contender with him in the fold. And if the Heat manage to also sign Lowry's friend and longtime teammate, DeMar DeRozan, they'll be a real threat in the East.